Bitcoin (BTC) exchange Bitex has partnered with Uruguay-based financial software company Bantotal in order to expand it cross-border payments system on the Bitcoin blockchain to Latin America. CoinDesk announced the companies’ new partnership in a report on Aug. 13. According to the report, the upshot of this partnership is that Bantotal’s clients will have access to Bitex’s exchange services via a marketplace that hosts traditional financial services in its BDevelopers program. Per the report, Bitex will act as a middleman service for cross-border payments. The exchange’s role is to convert from fiat currency to BTC, and then back to fiat …

South Korean holding company SK C&C has unveiled plans for a donation platform that is based on a Ripple blockchain fork. Moreover, the platform will support a stablecoin linked at a 1:1 ratio to the won, as well as a utility token. South Korean news daily Chosun reported about the company’s initiative on Aug. 9. According to the report, the donation platform is still strictly in the planning phase. SK C&C head Lee Sun-min explained that issues with regulation and infrastructure development present barriers to launching their proposed platform: "Since SK is a company, we cannot pursue profits in won …

Bitcoin (BTC) really does function as a safe haven asset in 2019, another source has told mainstream media as the United States-China trade war rages. Bitcoin increasingly important amid economic uncertainty Speaking to Forbes in an interview on Aug. 8, Chris Reinertsen, chief marketing officer of blockchain consultancy Rhythm Technologies, said investors were pouring into Bitcoin in addition to traditional safe haven assets. “There is a flight of capital to safe-haven assets across the board, which now includes Bitcoin,” he told the publication. He added: “Throughout the last few years, we have been seeing the trend of Bitcoin increasingly becoming …

According to the Apple Card Customer agreement, users will not be permitted to buy cryptocurrencies using the company’s upcoming credit card service. Goldman Sachs published the agreement on July 2, according to a report by Reuters on the same day. As per the report, American tech giant Apple is releasing the Apple Card in partnership with investment banking company Goldman Sachs as part of a broader business plan to bring in more revenue through service offerings. According to the card’s customer agreement, cryptocurrency purchases fall under the heading of cash advances or cash-like transactions: “‘Cash Advance and Cash Equivalents’ means …

Brazil-based cryptocurrency brokerage M Intermediação e Prestação de Serviço Ltda. has won a lawsuit against Banco Bradesco, which was initiated after the bank closed M Intermediação’s account. Cointelegraph Brazil reported the legal victory in a report on Aug. 1. According to the report, M Intermediação uses the Bitcoin network as well as traditional bank accounts to let their users make deposits and withdrawals in both Bitcoin (BTC) and Brazilian reals. The Banco Bradesco decided to block the brokerage’s account in 2018, claiming that their security system detected unusual activity. The bank subsequently blocked the account in order to prevent alleged …

The state of Arizona has accepted a blockchain-based, cannabis industry-oriented payments solution into its fintech sandbox. According to a recent press release from the Office of the Attorney General, the company — called Alta — is a cash management solution for licensed medical marijuana providers and vendors. The Arizona-based financial services startup intends to offer a stablecoin that is pegged 1:1 with the United States dollar. During its sandbox testing phase, Alta will trial its member onboarding and remittances platform. The end goal of the platform is to let users pay for goods and services using the stablecoin instead of …

Bittrex cryptocurrency exchange is partnering with Bahrain-based crypto exchange and custodian provider Rain Management WLL to launch a digital asset trading platform for customers in the Middle East and North Africa (MENA). The new platform will purportedly combine Rain’s staff and expertise in the MENA region with Bittrex’s technology and security infrastructure, according to an announcement on July 31. The platform will offer all the tokens that are currently available on Bittrex and Bittrex International. It will also offer four Bitcoin (BTC) trading pairs with local fiat currencies: the Bahraini dinar, the Kuwaiti dinar, the United Arab Emirates dirham and …

United States-based crypto exchange Kraken has partnered with Estana Custody to offer new options for fiat deposits and withdrawals in five major currencies. New funding options for USD, EUR, CAD, GBP, JPY According to an official announcement from the exchange on July 29, the partnership will bring Kraken’s global customer base access to new funding options for U.S. dollars, euros, Canadian dollars, British pounds sterling and Japanese yen. While the new onramps are not available for “Starter” Kraken accounts, “Intermediate” and “Pro” level traders can access the fiat funding options by registering their bank account and wiring funds to the …

Major European crypto exchange Bitstamp has partnered with digital asset brokerage BCB Group to enable direct transfers in British pounds sterling (GBP). A press release shared with Cointelegraph on July 29 revealed that following the new partnership, United Kingdom-based investors will be able to make GBP withdrawals and deposits directly to and from their Bitstamp accounts by the end of this year. In a statement, BCB Group founder and CEO Oliver von Landsberg-Sadie said that the partnership aligns with the company’s broader aim of providing robust and frictionless services infrastructure “covering compliance, trade execution and settlement and custody for clients …

United States prosecutors have filed a complaint against now-defunct crypto exchange BTC-e and its suspected operator Alexander Vinnik, according to a document filed in the Northern District of California on July 25. Per the filing, the Financial Crimes Enforcement Network (FinCEN) determined civil penalties for BTC-e and Vinnik last year, who face fines of over $88 million and $12 million, respectively. The filing states outright that BTC-e and Vinnik did not attempt to register with FinCEN, implement Anti-Money Laundering practices, or report suspicious activity generally. Alleged money laundering and lack of regulation The filing also notes that BTC-e and Vinnik …

The Nigeria Deposit Insurance Corporation (NDIC), a federal insurance overseer and safety net provider, has issued a public warning about relying on cryptocurrency transactions in a press release on July 25. According to the press release, managing director and CEO of NDIC Umaru Ibrahim said that relying on cryptocurrencies is very risky, because they are unregulated and unbacked by central banks in most financial jurisdictions. Much like the United States’s Federal Deposit Insurance Corporation, the NDIC provides a safety net for depositors and aims to protect the banking system from instability caused by bank runs or loss of confidence. House …

The Croatian Post has partnered with Electrocoin to run a pilot program for a crypto-to-fiat exchange in the city of Zadar. The pilot service will reportedly enable crypto holders to convert Bitcoin (BTC), Ether (ETH), Stellar (XLM), XRP and EOS to cash in one of the Croatian Post’s local offices, according to an announcement by the postal service on July 24. The exchange pilot is currently available at three post offices in Zadar in order to gauge market interest in the service. The Croatian Post ultimately aims to spread the service to major cities and tourist centers throughout Croatia. According …